F&I

WALKAWAY Announces Distribution Agreement With SWBC

September 27, 2007
• by Staff

IRVING, Texas — WALKAWAY USA LLC announced a strategic partnership with Southwest Business Corporation (SWBC) for the distribution of WALKAWAY Protection for Automotive Financing. This partnership provides SWBC with an opportunity to market WALKAWAY to credit unions throughout the United States.

With WALKAWAY Protection for Automotive Financing, participating credit unions can provide their members with a unique benefit, offering protection against negative equity, allowing them to walk away from their vehicle loan or lease in the event of life-changing circumstances, such as involuntary unemployment, loss of driver's license due to medical impairment, international employment transfer, self-employed personal bankruptcy and total vehicle loss.

Jeff Beaver, president of WALKAWAY USA LLC, stated, "We are pleased to announce our selection of SWBC for the distribution of WALKAWAY, a one-of-a-kind retention and loan acquisition program for the credit union marketplace. SWBC’s proven industry expertise and lasting relationships with over 1,000 credit unions make them an ideal partner for WALKAWAY in this marketplace.”

According to Mark Hein, CEO of the credit union division for SWBC, “We are excited to have the opportunity to introduce such a ground breaking product into this untapped market. WALKAWAY positions us to help credit unions differentiate themselves, increase loan volume, generate non-interest and fee income, and drive member loyalty, acquisition and retention.”

Participating credit unions offer, at no cost to the member, a 12-Month Vehicle Return Program from WALKAWAY on every financed or leased vehicle, regardless of the member’s age, health or employment status. Members also have the option to extend the complimentary program to full term coverage, up to 84 months, with extended coverage levels such as Total Loss Protection.

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